Top 5 Types of Business Names
The dynamics behind choosing a business name are simple, but the final selection is one of the most important decisions you will make as a business owner.
With that goal in mind, here are the top 5 most common business names, each with some advantages and disadvantages if you're considering a name for your new business or thinking of changing your current business name.
If you are, then you can view this as a guide to help you navigate the world of extraordinary, brilliant, and mind-blowing business names.
Sometimes new companies looking to capitalize on word recognition will choose to use a name that already exists as part of a new business name.
A great business name is sticky and flexible. Whether you hear it in a crowded room or say it yourself, it resonates and lives on. So what is the naming strategy behind some of the best companies of all time? Apple was able to convince people that the high-tech world of personal computing was friendly and inviting by choosing a simple, everyday name. Samsonite created an image of strength and stability that only Samson could maintain. BlackBerry has harnessed our sense of touch by pairing the phone and its tiny keyboard buttons with the droplets that make up the Blackberry Fruit.
There are many techniques that entrepreneurs use to create a memorable and unique name for a new business. Some strategies are more effective than others, but they all seem to coexist, making it necessary to look at each model to get an idea of what is available. The dynamics behind choosing a business name are simple, but the final selection is one of the most important decisions you will make as a business owner. Your company name is the gateway to your product or service. It should be nothing short of spectacular.
With that goal in mind, here are the top 5 most common business names, each with some advantages and disadvantages if you're considering a name for your new business or thinking of changing your current business name. If you are, then you can view this as a guide to help you navigate the world of extraordinary, brilliant and mind-blowing business names.
No. 1: Basic Word Business Name
We all recognize certain names in the English language because they have become household names. They refer to the products or services that we use every day. Quaker, Shell and Twitter are well known to us because they are real words, but they got the money they needed by connecting with successful companies. Sometimes new companies looking to capitalize on word recognition will choose to use a name that already exists as part of a new business name. These names are best described as good brand names.
Amazon, Yelp and Adobe are more examples of highly successful businesses that began as simple, recognizable names that grew into multi-million dollar companies. In fact, most people today will tell you that "Amazon" is an online retailer, before telling you whether it's a female warrior or a river. On the downside, it's impossible to get the the.com URL for the actual words and it's extremely difficult to protect. Real word business names, although simple and convenient, are not necessarily the recommended solution despite strong potential for recognition.
No. 2: Descriptive Business Name
There's no doubt that when consumers hear the name "super cut" they imagine a bite, and it's probably super. A descriptive business name is one that essentially describes a product or service by identifying some element, quality or characteristic of that product. Although the naming strategies that employ descriptors are easy to understand and informative, they are rarely unique and very common. After all, descriptive names are boring, lack appeal, and in most cases don't deserve trademark protection.
Still, there are some advantages to using a descriptive name to identify your business. One thing is that there is no confusion in the "whole bran church". And from a marketing perspective, sometimes being direct isn't so bad. In the worst case, descriptive names can cause consumers to associate businesses with a lack of creativity and innovation. And unless you have an incredibly large budget and the ability to outcompete the competition quickly, descriptive titles are a tough bet.
No. 3: Compound word business name
Here it starts getting interesting. Many businesses have been very successful by mixing two common (or unusual) words to create a new name and concept. Compound word business names are interesting and unique, especially if new meanings can be created by combining words that are not commonly used together.
Compound words business names are generally easier for customers to remember because of their uniqueness and memorability – think Salesforce and Firefox. In some cases, the right combination can even generate strong curiosity, which is always a good thing for business. With mixed business names, the possibilities are endless as there is almost no end to the number of winning combinations that can be made. It's hard to find fault with using a really good compound word for a business name, but if there is one, it's its length.
Compound words have more letters than other styles of business names. This can be tricky, but avoid using any compound names longer than ten characters. Keep it short and sweet and you can't give up.
No. 4: Connected word business name
Sometimes, business names resonate because they blend two or more words together, making it fun to think of two unrelated objects as one. "Netscape" is originally a portmanteau of the words "net" and "landscape," referring to an Internet landscape, making it a perfect business name for an Internet web browser. Associated word business names include all kinds of unique names that are simply combinations of other words, words with prefixes or suffixes, or even misspellings of other common words.
Affiliate keywords can be extremely successful business names. Cisco (from San Francisco), Wikipedia (from Encyclopaedia) and Google (from "Gogol") certainly had no difficulty gaining credibility. These brand names have strong meanings and provide better news than other types of brands. Affiliate words make great business names and can be quite successful if chosen carefully. However, getting it "right" can be difficult, and it's easy to sound contrived or unnatural if you're not careful.
No. 5: Brandable or generic business name
When it comes to trademarking and ease of use, nothing comes close to brandable or generic business names. Brandable names are one of the easiest business names to protect and one of the easiest and most effective ways to ensure exclusivity for the product or service you offer. One of the biggest advantages of choosing a brandable name is its brand ability. As consumers use and enjoy your product, your name creates a definition that describes what your company offers.
Start-ups and even established businesses are always looking for ways to build brand awareness. The right brand name will launch any branding campaign successfully. Consumers will remember your business name as well as your products. For any business, in any company, this is a great advantage, as it eliminates the terrible "noise" that connects people with descriptive names, which are related to it. It's surprising how many people have negative opinions about a particular business name because it evokes negative feelings stemming from past situations. A unique or "nonsense" name prevents this and gives your company an edge over descriptive competition.
Your choice of name has a lot of profit or loss in your business. Your business name is the gateway to your products and services and, by default, your home. When you don't know where to start, review these strategies and make a clear decision about a name that appeals to your customers and arouses their curiosity. After all, you only have one business name, get it right and enjoy the peace of mind that comes with knowing you've made the right choice on a high-performing, exceptional name that customers will be consistently drawn to.
Compound word business names are interesting and unique, especially if new meanings can be created by combining words that are not commonly used together. Associated word business names include all kinds of unique names that are simply combinations of other words, words with prefixes or suffixes, or even misspellings of other common words. After all, you only have one business name, get it right and enjoy the peace of mind that comes with knowing you have made the right choice on a high-performing, exceptional name that customers will be consistently drawn to.
